Kingsview Wealth Management LLC Sells 5,270 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Kingsview Wealth Management LLC cut its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 28.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,000 shares of the bank’s stock after selling 5,270 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Sandy Spring Bancorp were worth $408,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC raised its position in Sandy Spring Bancorp by 69.1% in the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock valued at $3,628,000 after purchasing an additional 60,850 shares during the last quarter. Great Lakes Advisors LLC raised its position in shares of Sandy Spring Bancorp by 432.5% during the second quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank’s stock worth $4,690,000 after acquiring an additional 156,377 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Sandy Spring Bancorp by 5.7% during the second quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock worth $11,528,000 after acquiring an additional 25,546 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of Sandy Spring Bancorp during the second quarter worth about $4,778,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Sandy Spring Bancorp by 10.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock worth $25,345,000 after acquiring an additional 75,596 shares during the last quarter. 66.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Sandy Spring Bancorp in a research report on Sunday, November 24th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Sandy Spring Bancorp currently has a consensus rating of “Hold” and a consensus target price of $28.25.

Sandy Spring Bancorp Trading Down 0.9 %

NASDAQ SASR opened at $37.51 on Friday. The business has a 50 day simple moving average of $34.00 and a 200 day simple moving average of $29.35. Sandy Spring Bancorp, Inc. has a one year low of $19.52 and a one year high of $39.55. The stock has a market capitalization of $1.69 billion, a P/E ratio of 19.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The business had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. During the same period in the prior year, the business earned $0.62 EPS. Research analysts expect that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a yield of 3.63%. Sandy Spring Bancorp’s dividend payout ratio is currently 71.58%.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.